William Grant, the Banffshire whisky distiller famed for its Glenfiddich brand, is now run by the fifth generation of the family led by chairman Glenn Grant-Gordon, 58. In 2014 the company bought the historic Drambuie brand from brothers Malcolm and Duncan MacKinnon (both qv) and it is now targeting growth in the US market. William Grant was founded in 1886, and profits reached a record £176m on a lower turnover of £933m in 2014. It is the world's third largest producer of Scotch whisky. With £1.049bn of net assets, we value the business at £2bn. Past dividends and other assets add £160m to the scattered Grant-Gordon family.